[Federal Register Volume 60, Number 48 (Monday, March 13, 1995)]
[Notices]
[Page 13548]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-6137]
[[Page 13547]]
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Part IV
Department of the Interior
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Bureau of Indian Affairs
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Preliminary Adjustments to Specific Tribal Trust Fund Balances; Notice
Federal Register / Vol. 60, No. 48 / Monday, March 13, 1995 /
Notices
[[Page 13548]]
DEPARTMENT OF THE INTERIOR
Bureau of Indian Affairs
Preliminary Adjustments to Specific Tribal Trust Fund Balances
AGENCY: Bureau of Indian Affairs, Interior.
ACTION: Notice.
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SUMMARY: The Bureau of Indian Affairs (BIA) through reconciliation and
certification of investment trust fund systems, (MoneyMax system to the
Finance system), must post preliminary adjustments to certain tribal
accounts. The Office of Trust Funds Management (OTFM) will convert the
MoneyMax and Finance systems to a new computer system on April 1, 1995.
Currently tribes obtain their statements from Finance and MoneyMax
systems which are not in a balance. The conversion will use MoneyMax
balances, since reconciliation and certification have confirmed that
these balances are correct. The problem is, that the daily figure OTFM
provides Treasury for investment in an overnight security is taken from
the Finance system. This means that the figure provided to Treasury to
invest is incorrect and therefore the interest earnings are also
incorrect. This occurs each day the preliminary adjustments are not
posted. These preliminary adjustments will either increase or decrease
the following tribal fund balances: Sioux Nation, Blackfeet Tribe, Crow
Tribe, Seneca-Cayuga Tribe of Oklahoma, Hoopa Yurok Settlement, Pueblo
of Laguna, Southern Ute Tribe, San Luis Rey Tribe, Creek Nation of
Oklahoma, Pueblo of Zuni, Choctaw Nation of Oklahoma, Three Affiliated
Tribes, and the Alaskan Native Escrow Fund.
DATES: Posting to occur no later than March 31, 1995.
FOR FURTHER INFORMATION CONTACT:
Joe Christie, Special Assistant to the Deputy Commissioner of Indian
Affairs, Office of Trust Funds Management (OTFM), BIA, 505 Marquette
NW., Suite 1000, Albuquerque, NM 87102-4804, phone number (505) 766-
3703, facsimile number (505) 766-3774.
SUPPLEMENTARY INFORMATION: Under the Trust Fund Management Reform Act
of 1994 (Pub. L. 103-412), notice is given that the Director, Office of
Trust Funds Management (OTFM) must reconcile and certify tribal trust
fund balances as of September 30, 1995.
The proposed preliminary adjustments are those from the MoneyMax to
Finance backward reconciliation (they correct variances between the two
systems as of September 30, 1992). Current reconciliation has been
ongoing from October 1, 1992 to present, and adjustments are posted
concurrently. It was agreed within this backward reconciliation and
certification that the OTFM would not adjust balances until the
affected tribes and Congress had a chance to review. Although these
preliminary adjustments are a product of the backward reconciliation
and have been certified, they are still pending tribal and
Congressional review. The dollar affect to each tribe can be obtained
by contacting Mr. Christie.
Ada E. Deer,
Assistant Secretary--Indian Affairs.
[FR Doc. 95-6137 Filed 3-10-95; 8:45 am]
BILLING CODE 4310-02-M
